Bitcoin Price Hovers Near $63k as Crypto Markets Remain in Fear
Cryptocurrency markets remained in a state of 'fear' on Sunday, despite some notable gains. The global market capitalization stood at $2.17 trillion, down just 0.01% from the previous day.
BTC saw a minor increase, rising to $63,119.16, while ETH gained more substantially, reaching $1,893.34. Dogecoin also saw an uptick in price, increasing by 0.56%. In contrast, XRP fell by 0.36%.
The U.S.-Iran impasse continued to affect markets, with shipping traffic through the Strait of Hormuz coming to a halt. Investors are bracing for potential economic sanctions from the U.S., which could further impact cryptocurrency prices.
Michaël van de Poppe, a popular chartist and commentator, believes that Bitcoin is in the 'end stage' of a bear market, marked by low liquidity and volume. He predicts this period may last one to two months.